Battery Electric Vehicle (BEV) sales to double in 2021

Read The Full Article On: Techdigest

At least 200,000 new battery electric vehicles (BEVs) will be registered in the UK in 2021, twice as many as 2020, according to figures from EV leasing company DriveElectric.

This figure is based on DriveElectric’s own forecasts, and it represents a significant increase from 108,205 – the number of battery electric vehicles registered in the UK in 2020 (based on SMMT data released today). The figure does not include plug-in hybrids (PHEVs).

DriveElectric uses its own model built from its intelligence of the UK market to forecast registrations of battery electric cars and vans. While diesel cars still outshone electric over the course of the year with 261,772 leaving forecourts in 2020, the Society of Motor Manufacturers and Traders (SMMT) said 2020 has been a “bumper year” for battery and plug-in electric cars.

The new models now account for more than one in 10 vehicle registrations compared to just one in 30 last year.

Looking further ahead, DriveElectric sees particularly high numbers of EV sales from 2025 onwards (around 50% of registrations). Registrations of petrol and diesel vehicles will decline naturally ahead of the 2030 ban, as people will stop buying them due to poor residual values, which means higher lease costs, and as EV prices become competitive with prices of ICE vehicles.

Says Mike Potter, Managing Director, DriveElectric:

“It is interesting to see that battery electric vehicle registrations in 2020 exceeded our forecast despite the COVID-19 pandemic. In 2021 there will be even more EV models on sale, so motorists looking to save money on running costs and to banish tailpipe emissions will have even more choice.”

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